YouSigma- the web's most extensive resource for information
$6.99 Domain Names at Network SolutionsĀ®!
State Farm Insurance Cos. (SWOT Analysis)

Go to Home Page

Tell your friend about this WebSite!

Download PDF Version!

“SWOT is an acronym for the internal Strengths and Weaknesses of a firm and the environmental Opportunities and Threats facing that firm. SWOT analysis is a widely used technique through which managers create a quick overview of a company’s strategic situation. The technique is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats). A good fit maximizes a firm’s strengths and opportunities and minimizes its weaknesses and threats. Accurately applied, this simple assumption has powerful implications for the design of a successful strategy.”

State Farm Insurance Cos. 

State Farm Insurance, through its various subsidiaries, provides property and casualty insurance, life and health insurance, annuities, mutual funds, banking and related products for both individuals and small businesses in the US and parts of Canada. The group's leading market position provides it with a profile that aids it in attracting new clients. However, the mounting trend of insurance frauds could increase its claim losses and may pull down its profit margins going forward.

Strengths, Weaknesses, Opportunities and Threats (SWOT)

Location of Factor

TYPE OF FACTOR

Favorable

Unfavorable

Internal

Strengths

  • Strong market position in the US financial services industry
  • High levels of net worth
  • Brand recognition and customer loyalty
  • Strong credit ratings

Weaknesses

  • Over dependence on the US market
  • Litigation issues
  • Damage to brand’s reputation

External

Opportunities

  • Extension of TRIA
  • Favorable demographic changes in the US
  • Buoyant asset management market

Threats

  • Sarbanes-Oxley compliance costs
  • US recession and weakening of financial markets
  • Mounting competitive pressures
  • Increasing occurrence of natural disasters
underline
About YouSigma Please Donate Using PayPal, to help us Develop Content
Copyright and Disclaimer
Loading
underline
underline
Try a free sample Destiny Reading! Executive Openings! $80,000 to $500,000+
"State Farm Insurance Cos. (SWOT Analysis)";